Mopani Copper Mines Plc is a Zambian registered copper mine owned by ZCCM-IH (10%), Glencore Plc (73.1%) and First Quantum Minerals Ltd (16.9%).

In April 2000, Mopani purchased assets of the Zambia Consolidated Copper Mines Limited (ZCCM) comprising underground mines, a concentrator, a smelter and a refinery at Mufulira mine site and underground mines, open pits, a concentrator and a cobalt plant at Nkana mine site in Kitwe.

Mission Statement

Mopani Copper Mines Plc is a proudly Zambian company which delivers superior value to our shareholders, our people and our country.

Core Objective

Mopani has established a competitive advantage in its core business of mining responsibly while developing the capacity and livelihoods of the local people. Mopani’s core objective is to achieve unit costs for copper in the second lowest quartile on the international cost of production curve.

Values

Mopani is founded on a strong foundation of common values that unite all employees to a common goal. These include: being Safe, Smart, Simple, Responsible and Open.

Corporate Social Responsibility

One important aspect of Mopani’s existence is the company’s role in the lives of the people in surrounding communities. Mopani has made tremendous achievements in uplifting the living standards of the people through its robust Corporate Social Responsibility (CSR) programmes.

Since 2000, the company has invested over US$200 million in various community projects with the aim of improving the living standards of the people. This investment has greatly helped the community, especially in the towns of Kitwe and Mufulira in such areas as infrastructural development, water and sanitation, education, health, sports and entrepreneurship development, among others.

Extract from 2018 annual report

During the financial year ending 31st December 2017, Mopani Copper Mines (MCM) recorded net revenue of K3,366.62 million (US$352.59) million [(2016: K5,994,62 million (US$584.18 million)]. The net loss was at K2,770.14 million (US$290.12 million) [(2016: K1,823.08 million (US$177.66 million net loss )].

MCM produced a total of 98,869 tonnes of finished copper during the period under review and this was 11,178 tonnes lower than the prior year (2016: 110,047 tonnes). Total copper production was lower than the previous year mainly due to the 45 day planned smelter shutdown in 2017. Total copper produced from own sources was at 41,738 tonnes (2016: 41,100).

MCM continues to invest heavily in infrastructure projects to increase the copper production and increase the life of the mine by twenty five years. The Mindola Deeps and Mufulira Deeps Projects progressed well during the year under review with total investment in the two projects amounting to US$578.00 million as at 31st December 2017. The forecasted completion is March 2019 for all works in Mindola Deeps and Mufulira Deeps Projects. MCM already invested over K3,884.71 million (US$406.85 million) in the Synclinorium Shaft Project and is planning another estimated K2,005.13 million (US$210.00 million) planned for a new Synclinorium Concentrator (the Concentrator). Site preparation and demolition works at Nkana site for the Concentrator commenced and were 80.00% completed.

There were no dividends declared during the year under review (2016: Nil).

Extract from 2017 annual report

During the financial year ending 31st December 2016, Mopani Copper Mines (MCM) recorded net revenue of
K2, 519.99 million (US$255.37 million) (2015: K7, 291.43 million (US$1,121 million). The net loss was at K1, 776.14 million (US$179.99 million) (2015: K1, 853.75) US$285 million net loss).

During the year ending 31st December 2016, MCM produced a total of 41,100tonnes of copper from own sources (2015: 92,100 tonnes). The 55% lower production figures in 2016 compared to 2015 were driven by the partial suspension of production, which were aimed at improving MCM’s operations and cost reduction. Progress was made in the upgrading as MCM’s Synclinorium Shaft at Nkana was commissioned and started to hoist ore at the end of 2016.

During the year under review, Mopani produced 41,100 tonnes of copper from own sources and this was 51,000 tonnes (55%) lower than the previous year due to the partial suspension of production while the major upgrade projects are being completed.

There were no dividends paid during the financial year ended 31st December 2016 (2015: Nil).

Copper

Extracting value from tier one assets by improving efficiencies and operations.